I first went to Thailand in 1997 and immediately fell in love with the country. Thailand at that time to me was mysterious and exotic, full of potentials and pitfalls.
Fast forward to 2010 and here I am after 13 years and many trips to the LOS sharing, with the help of my 
Thailand Startup Costs
OK, so I sat down today and took a serious stab at getting an idea of how much Golf and I will need in cash reserves to make the move to Thailand. Bear in mind that this is strictly cash and is separate from what I would like to see in our retirement accounts prior to making the move 
I was a little surprised at the total, but not too surprised. What it’s told me is that I will need to get my ass in gear and start making a LOT more money one way or another. The upside is that if I can increase online earnings enough to meet the savings necessary to have this cash on hand within 2 years (actually something more like 23 months 7 days now) I shouldn’t need to worry about working as a teacher when we make the move to Thailand.
Ok, so I know you’re all impatiently waiting for me to spill the beans…here we go. By my calculations we will need US$90,000 in cash savings to comfortably make the move to Thailand. I know this may seem high to some (many?) of you and it seemed that way to me too, however let’s see where that money will go.
The $90,000 basically breaks down into 3 major categories. US$35,000 for a new car, US$40,000 for startup housing expenses and US$15,000 for cash reserves.
I can hear some of you already thinking that this is WAY more than we will need. That’s right I can hear your thoughts!
The money for the car is more for Golf than anything. I have no intention of driving in Bangkok and think that between the busses, BTS, MRT and taxi’s I can get around just fine. Golf on the other hand feels we need a car. Fair enough and I may even start driving myself if we do have a car. She’s got her heart set on a Mitsubishi Pajero Sport at this point so that’s what I have built into the moving budget. Honestly I’ve got to say it’s a pretty damn nice SUV and I won’t mind owning it and having it available for trips outside Bangkok and during the rainy season.
The US$15,000 cash reserves are easily explained as well. It is basically a 6 month emergency fund (at US$2k per month) with an additional US$3000 thrown in for expenses during our first month in Thailand. I am figuring we will need to rent in a long term serviced apartment type place during our search for more permanent housing which is why the first month budget is a bit higher. To be safe I could probably throw an additional US$5k into this category because I know we will be traveling quite a bit the first month back in Thailand to catch up with family and friends and I also assume at least a short trip to the islands to unwind. I’ll have to think about revisiting this at a later date.
The last category, startup housing expenses, is where I figure we should have the most wiggle room and yet it is also the category where I hesitate to cut corners. I’ve broken the US$40k down slightly in regards to expenses for furniture, electronics, 2 scooters, decorations and all the other things that go into furnishing a house and I know some of my estimations seem pretty high, but I also know my own and Golf’s tastes pretty well. I also know that western style home furnishings will cost pretty much the same as they would in the West (if not more). I’m hesitant to cut corners in this category because these are the items that will surround us every day and we will have to live with our choices for years to come. If I have to spend an extra 6 months in the States to save a bit extra for higher quality furnishings then so be it. It’s an expense that only comes once every what…10 years or so?
I know at least a few of the readers here are living in Thailand and it would be great to hear your experiences when initially setting up house when you moved to Thailand. A general idea of the costs involved and anything I might be missing would go a long way in finalizing my own budget and also helping others who may be considering taking the leap.
Popularity: 3% [?]
Check out these similar posts:
- Should I Move To Thailand?
- Beginning Financial Transparency
- Preparing For The Move To Thailand
- Happy Thanksgiving
- Bangkok Cost of Living
- Thailand is Expensive!
- Living in Thailand on $20 a Day
Hi Steve, I can only really add one comment to your post as I have never lived in the City of Angels.
Cars: very over priced especially second hand in LOS (for what you get). I would go for Isuzu MU7 around 1-1.4 Million Baht depending on spec) since it has a much much better resale value that any Mitsubishi. Its also a very cool motor, equally Toyota are tops in Thailand but more expensive option for SUV.
I see you don’t mention medical insurance or is that part of the overall fund?
Thanks Mike. The wife doesn’t care for Toyota SUV, but will see what she thinks about the Isuzu, that’s what my father in law drives. The Mitsui Pajero is about the same cost…runs 1.1-1.4 million baht, depending on specs.
Medical insurance will be part of the monthly budget which is why it isn’t mentioned here. These are non-ongoing start up costs, just to get comfortably set when we arrive.
Steve! YIKES!!!
Wow! 90,000 is way more than I think you need! I’m from the easy coast so I’m a bit in the frugal side!
First things first. VEE and I bought a place near the new BTS airport extension (just about to open) for 32,000 USD! It has all the bells and whistles. Imported German marble floors, recessed lighting, all wiring inside walls, full kitchen on the 9th floor on a 99% Thai building! It is a free hold outright ownership! We furnished it for about 6,000 USD! VEE decorated so it looks more European than Europe! He travels for a living so I think he has a European fetish! So round it off to $40,000
We don’t have a car or bike and we really don’t feel we need either! It is bits to drive in BKK! We take a cab which is dirt cheap and the BTS. I rent a car when we take a quick trip to Hoi Hin or go north! Many times we take the train to CM and bus it up to Loas etc!
I think a car to start with us an unneeded expense in the beginning! Add insurance and upkeep and it is very expensive!
Two mopeds to start is another unnecessary expense!
If you wanted to rent a place you can get some really decent rents away from the city center! We are out on Pattanakarn Road near the new BTS and you could find a decent place for 10,000 to 12,000 bht and that is high!
I think it is better to have more in the bank than it is to invest in a car! For $35000 you could have a great place and not pay rent! Forget the car to start and get settled! A car looks good to the family but its a pain! Parking is another trip!
This is one area that I have strong opinions!
I can give you all kinds of ways you can live well and not busy the bank! I think that if you own the condo you can live for 3 at 1500 USA very well!
Yes Merrill you’re right, YIKES! indeed. I know the cost of a condo in Bangkok can be quite reasonable. We plan on renting (and I have budgeted about 12k a month for rent) initially mostly because we want to own a house (and land) eventually and I’m pretty sure the resale value of condos in Bangkok is pretty poor. Bangkok is one place where you can definitely make a case for renting being cheaper than buying. Anyway, we plan on renting for 8 years or so until I can get my Thai citizenship and then will start to look to buy land and build, most likely up north near Chiang Mai. At least that is the plan for now…lots can change in 10 years!
I’m assuming the place you bought is a 1 bedroom so only needed to furnish 1 bedroom, 1 bathroom, living room and kitchen (no dining room?). My estimate is based on a 3-4 bedroom place, so need to furnish all the bedrooms, plus dining room, plus patio stuff, etc. I still don’t know how you furnished for only $6000 USD though. You or Vee will need to let me know where to buy western furniture (beds, soda, dining room) at such cheap prices. Granted we’ve only done some basic looking in Bangkok, but it seems as if the prices on western style furniture is at western prices. So, $3000+ for bedroom set (x3), same or more for dining room set, etc. Plus I know electronics are just as expensive as here so throw in several thousand dollars for TV, DVD, stereo system.
I would be VERY interested in hearing more about where to get bargains in Bangkok and honestly I definitely think I high balled a lot of items simply because I would rather have $90,000 and only need $70,000 than having $50,000 and needing $70,000. Plus the high goal pushes me to increase my income as much as possible over the next two years…little bit of psychological warfare with myself.
Regarding the car…you are preaching to the choir. I personally have no need for a car what so ever. The car decision is being pushed by Golf and I’m fairly certain that the primary reason is as you stated “A car looks good to the family” (and friends). I am in complete agreement with you that it is an extravagant and unnecessary expense, especially when you consider that you could buy a condo for the same price as a car! BTS and taxi’s are plenty good for me and I can only say that at least I have 2 years to bring her around to my way of thinking. Possibly once the $35,000 is in the bank and I present her with the option of buying a car or buying a condo (ridding us of rent) she will come around. I kind of think that might be the case.
I’m definitely looking forward to your further opinions and advice once the move date gets closer. Like you, I am from the east coast and typically pretty frugal. I haven’t been called kee neow by Golf yet, but pretty close sometimes
The most important thing at this point is to get as much cash in the bank as possible over the next two years. Once we are in Thailand I know all of my best laid plans will likely mean next to nothing.
$35,000 for a car, and god knows how much to keep it running. Mmmh…..
A big SUV in gridlocked Bangkok. Mmmh….
Western funiture, Western everything. Mmmh
These are your own lifestyle choices, and therefore your decisions to make. But at a guess if you skip the $35,000 for a car then you could probably get out to Thailand a year earlier! Now that to me would be an easy choice to make
Furnishing a place for $6,000, pretty reasonable, I’d say. Biggest expense is probably going to be the TV. Depends if you are happy with local furniture and electronic appliances, or if you want things imported from the US. Talkiing of which, what about the furniture you have now? Can’t you just ship over the big ticket items?
Scooters are a bargain in Thailand, so having two is not extravagent, and allows you to have independent lives.
A lot of my thoughts come back to the car, just don’t see the need. And even if you do really need one, don’t see the point of spending so much money on one until you can afford to buy one out of your earnings once in Thailand.
Just read your article again, I thought that the $40k was buying and furnishing a house, not just furnishing it.
So take away the car $35,000. Have more basic furnishings and still have two scooters, that takes away another $30, 000.
Seems you could move out here with $25,000 and be secure for at least ten months,or for $60,000 if you buy your own place straight away. Just a thought.
Or if you are planning to rent, then get a furnished place. I looked at a really nice apartment in Bangkok 25,000 baht a month fully furnished including flat screen tv, cable, nice beds furniture etc. So to move out here first year 12 x $750 rent = $9,000, back up one years money $15,000 = $24,000
Can even be cheaper than this f you find an apartment in a less central area.
I’m completely with you on the car issue, however I do think it will have it’s uses. If we didn’t plan on going outside Bangkok at all then I would say “no way”, however for trips to the provinces I think it could be pretty useful, especially with a baby in tow.
Regarding the furniture…no I don’t think I would be happy with standard local quality. Unfortunately good quality furnishings are going to be expensive whether of European or Thai manufacture. It’s a big expense, but as I said it is a one time expense and since so much time is spent in the house it should be worth it to make it as comfortable as possible. Biggest expense…yeah probably the TV and sound system, but the furnishings also include such things as refrigerator, washer and dryer and furniture for multiple bedrooms, etc. I am probably high balling things a bit, but would rather have US$15-20k excess than come up short.
Hey Deano,
It’s no doubt we could make the move on $24,000, in fact I have been pushing for ooner and cheaper. And I’m sure in the upcoming months you’ll see modified versions of this budget. As a first go around though I would much prefer to err on the high side. Anything we don’t spend can always be kept as savings and that’s a good thing especially considering the cost of a good school once the baby is old enough. What’s the saying…”You can never be too thin or too rich”…hah! I fail on both counts right now
Hi Steve,
From my time here, admittedly not living in Bangkok, I would advise that a car is not a necessity although you will have a little one. As most are imported they are incredibly expensive – your call will go much further if you downgrade your automobile expectations (assuming you REALLY must have one) and get a more budget model or (quality) second hand ride.
Equally 40k for a house is perhaps more than you need but money (well spent) is worth investing – unless you go down the route of renting at first. [As Deano suggests].
To be honest, Thai schools should be your biggest concern. My little one is only one but, having worked as a teacher, they scare me and we fully intent to return to the UK (where I met my missus when she was studying) for his education. If you can afford private schools here good for you as they of a better, Western quality but they incredibly expensive, more expensive than home.
I would also look into the job market closely particularly if you will not be moving here for another 2 years. Teaching in Thailand sounds good on paper but if you are ambitious and looking to make good money, you’ll be better off finding a different career.
Doing something other than teaching is what most expats are looking for though, it is far easier said than done and often just being out here a while will through up opportunities.
All in all, I understand why you are keen to get out here – I myself moved out here with a young family so we could experience the culture before it was too late – but the reality of being here and planning is vastly different though as, to be fair, you have noted.
It’s still a move worth taking, perhaps I was lucky, we made very little preparation and after a few months of adapting we got up and running and haven’t really looked back – still though our long-time future is back in London.
All the best to you and your plan.
Hi Jon,
Yes I know (oh so well) that a car is not a necessity for getting around in Bangkok, however it does appear to be a necessity for my wife and her family to gain face, so…Within Bangkok I will either get a ride from her or take public transport, no way I’ll be driving there. Outside the city I will likely give it a go and with a family a small SUV (we’re thinking Mitsubishi Pajero Sport) will definitely be a good thing for those trips back to the hometown and to the beach. So while it is a big expense it’s also a once a decade expense and will be at least partially covered by the sale of our autos here in the States.
We will most certainly be taking the renting route initially and after looking into shipping costs we may very well ship our belongings from the States to Thailand. It looks as if that will cost us $4000-5000 which isn’t too bad and will help with start up expenses in Thailand as well.
Schooling for our expected child has been a heavy weight on my mind. There is no way I will be putting the child into the Thai public school system and I am well aware of the costs of a good private school in Bangkok. Schooling costs definitely will figure into when we can afford to move to Thailand and to partially offset this we will be setting up a fund immediately when the child is born to help with the costs. I think we should be able to get a good chunk put away there by the time he/she (no we don’t know yet) is ready for kindergarten.
Teaching is a backup contingency plan only. I expect to be making a good wage from my freelance efforts by the time we move and hopefully there will be no need to take the teaching route. I know that being in Bangkok will likely present opportunities that simply are not available from the States and having the luxury of being free to explore those opportunities should prove quite helpful. At worst we would be looking at me teaching English, Golf working as a nurse and then supplementing with cash from my freelance/online work. Very doable, even if we made the move right now. The primary reason that we are not making the move now are:
1. Not enough emergency/startup cash
2. I would have to find some outside work which I prefer not to do.
Thanks for the well wishes. Sounds like everything is going good for you in Saraburi and I hope that continues.
are you including the 24k USD you need for long term visa? or do you have enough outside income to qualify without the big bank deposit?
funny, my wife wants a car also. must be a thai girl status thing. i could care less, as i’ll be the one paying for it. cars in thailand ARE expensive, the used car market is nil, and i for one don’t think a small pickup truck is a “CAR”, but they do.
from what i’ve learned from other expats, opportunities and possibilities open up when you are IN the country long term. difficult to make it work long distance. i’ve met a number of expats who moved there with minimal resources, but because they were in the country, they were there for opportunities, ideas, programs, jobs projects, businesses that enabled them to stay there. but then, there are those who eventually go broke and go back to the west.
onward!
Hello all victor here and i do not know what should i do?i want to do study at Bangkok but i have heard that its an expensive one?could anyone guide me about that.
Hello; what are the local contractors charging for sq/ft? have you though about hiring a project manager and doing the house yourself Richard
i’m a registered nurse with 30 years of experience. i had seen in one of the postings that your wife makes 25,000 bht a year. please ask her what i should ask for my salary and benefits. i have no idea. i would especially like to live on koh samui. thanks cathy
Hi Cathy,
Actually it’s 25,000 baht per month that she was making in Bangkok. Part of that included hospital provided accommodations (single room, 2 girls, no aircon). Not all that great really. To be honest we’re not even certain that you can work as a nurse in Thailand, but if you can I imagine they would pay you the same salary as the Thai nurses. Considering that you have 30 years of experience I imagine you should ask for more than a new nurse would be getting, but again I’m not sure how much that would be…40k per month? 45k? 50k?
Also, Thai companies in general don’t provide much in the way of benefits.
Best advice I can give you is to get to Thailand first and then visit some hospitals to see if you can even get hired. Not many hospitals on Samui to check out and not many International caliber hospitals in Bangkok either so the search should be fairly quick.
Not sure what other options you might have in the health care field in Thailand, but your best bet to find them is to be on the ground in Thailand. I know all of that probably wasn’t much help, sorry. Keep us updated on your progress as we should be back in Bangkok in the next 12-18 months and Golf may be able to provide you with more information at that time. In the meantime I’ll ask her to contact some of her friends who are currently working as nurses in Bangkok and see what they might be able to find out for you.